Sunshine is abundant in New Mexico. Why not harness its power with solar panels?
Electricity is affordable in New Mexico — at less than 14 cents per kilowatt-hour in June 2023 — but energy prices are unpredictable. Solar panels can give you consistency in your energy bills, if you have a bill at all, and they can provide you with energy independence in the event of blackouts.
There are solid state-level incentives to encourage your solar switch, as well. The state also has its own tax credit on top of the big, newly expanded federal tax credit for going solar. So on top of 30% of the cost back from the federal government, you can also get 10%, up to $6,000, back on your state taxes. Solar panels may be costly, but you’ll be exempt from sales and property taxes associated with your purchase. The Land of Enchantment also has a fair net metering policy for exchanging excess energy with the grid.
Here’s what you should know before going solar in New Mexico — starting with the best solar panel installation companies operating within the state.
New Mexico solar panel companies
SunPower Solar
Best solar panels
If you’re looking for top-of-the-line solar panels, SunPower is your best choice. But don’t write it off if you’re looking for a less flashy installation that will get the job done. This year it started installing Qcells panels, which should make an installation from the longest-tenured company on our list available to more people.
Tesla Solar
Most affordable
Tesla’s solar branch seems to be the least loved of Elon Musk’s ventures. Even Tesla’s Solar Roof seems to get more love.
If price is the thing you won’t budge on, consider Tesla. By all accounts, Tesla installs quality panels and makes the closest thing there is to a household name in solar storage: the Powerwall.
Where you might miss out is customer service. Discussion online seems to suggest Tesla’s service is a bit of a gamble.
Local solar companies in New Mexico
How to determine which solar company in New Mexico is best for me
There are 45 solar installers operating throughout New Mexico, according to the Solar Energy Industries Association. Finding the right solar installer for your home is essential because different installers offer a variety of solar products, warranty terms and prices.
While we’ve compiled a list of solar panel installers that stand out in the solar industry, this list should not replace your own research, although it can be a starting point as you navigate the installer options in New Mexico.
Most importantly, get quotes from a variety of companies and compare them not just on price but also on customer service, reputation, equipment and how well each system meets your needs. Solar panel systems are highly individualized to your home, so finding the right installer might take some research.
Cost of solar panels in New Mexico
Here’s a look at the average cash price for a typical solar panel system in New Mexico before factoring in tax credits and incentives, according to data from FindEnergy.com.
Average cost of solar panels in New Mexico
Shown below are the average total cash price, cost per watt and system sizes for solar panel systems across the United States, according to data from FindEnergy.com. These prices don’t factor in rebates or earnings from tax credits or state incentives. Certain states don’t have any FindEnergy solar data and are grayed out on the map.
New Mexico solar panel incentives or rebates
While the average cost per watt for solar panels in New Mexico is slightly higher than the national average, there are several tax credits and incentives at the federal, state and local levels to help make solar more affordable.
The residential clean energy credit is a federal solar tax incentive that credits 30% of the cost of your solar system to you on your yearly tax return. This tax credit was extended and increased in August 2022 when the Inflation Reduction Act was passed. There is no cap on the residential clean energy credit, meaning you can claim the complete 30% regardless of the size or price of your system. You can apply for the residential clean energy credit by filling out IRS form 5695 (PDF) and following instructions on completing the form.
There are also several other state and local solar incentives in New Mexico. Here are a few incentives you should know.
New Mexico solar incentives
The companies we listed above as “the best” are curated from CNET’s best solar companies list. Companies making the best list are scored on the equipment, warranties and customer service they offer. Then, we make sure these recommendations are available in your state. You can read a full breakdown of how we review solar companies here.
Companies listed under the local installers were chosen in a less rigorous way. We chose them because they offered something unique or notable to customers in the state, they seemed well-regarded by internet reviewers or because they were one of the few installers we could find information on in the state.
Whether we’ve completed a full review on a company or not, it’s always a good idea to get multiple quotes from different installers before choosing a company.
